Preliminary stats for Duluth, March, 2010 indicated that there were 618 properties on the market. Overall, there is about an 14.3 month supply of properties, with a marked deceleration in Absorption Rate.  However, sales in March were 59, compared to 44 a year earlier.

In the sub-$200k arena, there were 193 listings, with about a 10.3 month supply.  But that shows a slowing.  The Absorption Rate had gotten down into the high 4 month realm… and as recent as December, was in the low 5s.  January was the stinker month, with both February and March showing increases over 2009.

Between $200k and $400k, there are 186 listings for sale, and about 15 months of supply.  Sales dropped from 16 in 2009 to 11 in 2010, but inventories have also dropped.

From $400k to $600k, there were 53 homes on the market. The absorption rate was around 10.6 months.  While March was up, January and February were both down.

In the $600k to $800k arena, there were 71 listings, with about 15.2 months of supply.  The change from last month was HUGE.  Down from 35.5 months.  Much of this is due to March sales being up from 2 in 2009 to 9 this year.

The range from $800k to $1m, there were 44 homes listed and approximately 44 months of inventory on the market.  Three sales in the last three months v 2 in the same period a year prior.

Above $1m, there were 71 properties listed. The current absorption rate indicated about 53 months of inventory.  A couple of sales at this level could have a large impact on the Absorption Rates…  (from January’s report) We are only showing 3 sales in the last three months, none in January…  The prior year there were 8 sales in the same 3 month period. There were 3 sales in Feburary, and we went from 66 to 40 months of inventory.  The 1 sale added in March and the 2 sales dropping off from December bumped up the Absorption Rate.

Duluth, GA is a suburb of Atlanta, in the heart of Gwinnett County. It actually straddles the county line and has unincorporated portions in South Forsyth County. The population of Duluth is estimated as about 26,000 people as of 2008, but this doesn’t include unincorporated areas outside the city limits, but with a Duluth mailing address. It is also home to Sugarloaf Country Club, a PGA stop until recently.  Forbes Magazine rated Duluth 26th in their nationwide survey of the best places to move, and it is one of the wealthiest parts of Georgia.  It is also home to the Arena at Gwinnett Center (Home of the ECHL Gwinnett Gladiators) and the Atlanta Thrashers practice facility (the Duluth Ice Forum). There is a LONG list of celebrities and athletes that call Duluth home, largely because of the country clubs and proximity to Atlanta.

I have a page dedicated to Duluth Market Information

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• Duluth Market Report – February, 2010 (lanebailey.com)
• Duluth GA Market Report for December 2009 (lanebailey.com)